Hey aubin.
The problem is that it’s only $300k and it’s spread over 2 years. Presumably down payment now ($20-50k?) and balance at end of the option. That’s not going to get any drilling done in the period you’re looking at.
It helps a bit to keep the doors open (director costs going at $500-600k pa) until better raising conditions are available. A win for EVN but title flipping is a bad place for a purported explorer to be - there’s not that much good ground around to replace flipped titles anymore.
It was arguably strategically surplus so no real drama there but hopefully we see more useful deals if they sell anything else off (Ambergate for eg).
we should have enough money already for the 2 campaigns you mentioned but they could be pretty skinny. I’m guesstimating around $1.2k in the bank at present. $300-400k for 6 months of opex leaves $800-900k for some drilling and a raise in the first quarter of 2023.
Hey aubin. The problem is that it’s only $300k and it’s spread...
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